Someone at Simpson Thacher apparently wants to make internal partnership communications public.
While it’s fair to say 95% of the public does not care what Simpson partners (or any firm partners) are saying, it’s equally fair to say a really high percentage of associates everywhere do.
They are a highly respected firm and, to a large extent, a great measure of what’s going on in Big Law — or really, what’s going on in the top tier of Big Law.
The topic is “Guidance to Compensation Committtee,” with the main takeway for the prying eyes of associates being that the firm will “continue to be extremely circumspect in making new partners.”
Above The Law also has a more complete version of the notes they received relating to a June 8 partnership meeting. Those notes confirm what everyone knew (and certainly was not happening just at Simpson) — hours billed were low. The information obtained by Above The Law said that, for the first five months of 2009, hours were “running at 1530 annualized average hours,” well below the goal of 1850.
That was in June, however, and things are reportedly going better now.
The entire memorandum is here.
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